Interested to Buy Any Domain ? << Click Here >> for more details...
Why Tds is not deducted on service tax amount of rent
bill(let out for business purpose).
- 2 Answers
- 12071 Views
- Mphasis, VNS Accessories, I also Faced
- E-Mail Answers
Answer Posted / shweta
Clarification has been issued in such a manner like that
this issue were never a issue at all.what is wording please
look
"Service tax paid by the tenant doesn't partake the nature
of income of the landlord."
By this the CBDT has indirectly fixed a relation between
Income and TDS whether it has been fixed intentionally or
unintentionally,but this clue/wording can be used for other
tds provisions by the assessee in his defense while not
deducting tds on reimbursement of taxes so we can draw a
conclusion that if person is getting mere reimbursement of
taxes than tds should not be deducted.
For calculating the amount of 120000 now service tax amount
should be excluded ,suppose if a person pay rent of rs
108000 to payee and 12.5% service tax on rent i.e 13500.in
this case though total amount paid is 121500 but tds is not
deductible after clarification as rent amount is only
108000 and less than 120000 prescribed in the section 194-I
Read more: http://www.simpletaxindia.org/2008/05/tds-on-
rent-194-i-not-including-service.html#ixzz0fbMcDXyh
Under Creative Commons License: Attribution
| Is This Answer Correct ? | 2 Yes | 5 No |
Post New Answer View All Answers
DEFINATION OF INCOME TAX , WEALTH TAX , INDIRECT TAX ,DITECT TAX , AND CORPORATE TAX ?
which items should be covered the Entry Tax by HP Govt instead of Purchased
HOW TO FILE RETURN- SALARIED PERSON GETTING SALARY 6 MONTH FROM ONE & 6 MONTH ANOTHER COMPANY
Under the provisions of the BST Act, no registered dealer is allowed to collect any amount by way of tax in excess of the amount of tax payable by him. Excess tax collected is to be forfeited to Government. However i want to know whether tax payable amount is the amount before the set off claimed or the tax payable amount after availing the set off.
Hi Kindly provide the current slab for profession tax in karnataka and due date for remittance the profession tax
what is service tax? how its count? and why its count?
I have some queries about Service Tax, I am working in a Insurance Broking Company. 1) We have raised one bill on 25.04.09 for the services provided by us in the month Mar, 09 Now We received the chq on May, 09 followed in the Month of June,09. When the service tax is actually payable in the month of received of Service tax amount or in the month of services actually provided by us (Mar09) 2) Can we take 100% credit of Service Tax Input paid to those who provided services to us. Suppose Service Tax payable is Rs. 100/- and Service tax charged by the other firms/company Rs. 80/-. The question is That can we deduct Rs. 80/- (already paid). Now Net ST payable would be Rs. 20/- or other percent of service tax input is available 3) What is the rate of interest for Service tax if not paid on time. Pls help me out asap
can we take 100% input of contractor service tax billing where service receiver have to pay 50% service tax
what is the journal entry for sales on discont. what is the journal entry for purchase on diicount.
What is the SEZ formalties in cement Industry?
how to file returne?
kindly advise me any set off in excise duty in maharashtra
What are the deductions under salary head?
Can u provided all the dues date and depositing date which are used in general manner or Income tax..
Dear Sir, we have purchased Poly Covers ( 360mm x 560mm)for raw material use.This Input vat claim it or not ?
